December 14, 2007

Munich Re Appoints New President and CEO, Munich American Reassurance Company and New Head of North America (Life)

ATLANTA, Dec. 13 /PRNewswire/ -- Munich Re, a global leader in reinsurance, today announced the appointment of Michael DeKoning as President and Chief Executive Officer of Munich American Reassurance Company, effective January 1, 2008.

Mr. DeKoning joins Munich Re after 19 years with a large international financial services company, where he successfully assumed increasingly senior positions, including the leadership of a prominent worldwide life retrocessionaire, and most recently as Senior Vice President with responsibility for all product risk across the Americas and Asia.

He is a Fellow of the Society of Actuaries and of the Canadian Institute of Actuaries, as well as a Member of the American Academy of Actuaries and a Director on the Board of the Medical Insurance Bureau. Mr. DeKoning will be based in Atlanta, Georgia.

"Michael DeKoning is a highly respected industry veteran with a track record of proven leadership and innovation that will help us address our clients' needs across the United States," said Dr. Wolfgang Strassl, Member of the Board of Management, Munich Re. "We are very pleased to have him at the head of our U.S. Life operations."

Mr. DeKoning succeeds David Holland, who is retiring on January 31, 2008. Mr. Holland's outstanding contributions to the Company mirror the considerable leadership he has provided to the industry as a whole. A past president of the Society of Actuaries, he was also a member of the Board of Directors of the Life Office Management Association, where he served as Chair from 2003 to 2005. He also served as a Director on the Boards of the American Council of Life Insurers, the American Academy of Actuaries, and the Medical Information Bureau. He will be starting a second term on the Board of Directors of the Actuarial Foundation shortly, and is currently a Trustee of The Educational Foundation, Inc. at Georgia State University.

Mr. Holland will remain as Vice Chair of Munich American Reassurance Company's Board following his retirement.

The Company also announced the appointment of Mary Forrest as Chair of Munich American Reassurance Company, and Head of North America (Life), a newly created position, effective January 1, 2008. Ms. Forrest is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries.

"Mary Forrest is an ideal choice for these roles. She is client-focused, an inspired leader, and has proven her ability to achieve unprecedented levels of top line and bottom line growth. She has also improved our global business by promoting the development and transfer of expertise and best practices across the Munich Re Group as Chair of the Global Financial Reinsurance Task Force, team member for the Global Strategy Project, and through a number of other global initiatives," said Dr. Wolfgang Strassl, Member of the Board of Management, Munich Re. "She has demonstrated the precise qualities needed to ensure that the Canadian and U.S. operations work together optimally while retaining their unique identities." Mary Forrest has also been appointed President and Chief Executive Officer of Munich Re's Canadian & Caribbean life and health reinsurance operations.